Overview

The Payment Services Directive 2 (PSD2) is a European Union law that was introduced in January 2018. The PSD2 changes will enhance customer protection offering you greater control over your payments when making purchases online and using your online banking services. These changes are happening right across the European Financial Services industry.

There are two main changes taking place under PSD2 in September 2019 that will affect you; Strong Customer Authentication (SCA) and Open Banking.

Strong Customer Authentication (SCA)

Currently when performing certain transactions such as setting up a new payment or viewing an e-statement, you are asked to enter an authentication code sent to your mobile phone via SMS text message.

As part of the Payment Services Directive 2 (PSD2) implementation we are introducing Strong Customer Authentication (SCA) to further enhance security and reduce the risk of fraud. We have added a new step to the current authentication process where you will be asked to enter 3 random digits from your 6 digit Personal Access Number (PAN) in addition to the SMS authentication code when you perform certain transactions or log on to your desktop.

This additional security step will help keep you safe online while not restricting current functionality in any way. Please see the new step highlighted in the image below.

 Step up authentication  

Third Party Providers (TPPs)

Changes being introduced under the PSD2 will offer you greater control over your data, giving you the option to securely share your online payment account information and make payments directly from your payment account by using authorised Third Party Providers (TPPs). This is known as Open Banking.

It is important to know that if you do not want to avail of these TPP services you do not have to. You are always in control. Permanent tsb will never share your information with a TPP unless they have your authorisation.

There are three types of Third Party providers that you can avail of:
  • Account Information Services Providers (AISP): An AISP gives a single view of payment accounts held in one or more Financial Institution. 
  • Payment Initiation Services (PISP): A PISP makes payments on your behalf directly out of your payment bank account.
  • Card Based Payment Instrument Issuer (CBPII): A CBPII can make an enquiry to permanent tsb to see if you have funds in your payment account. They will not be given a balance of your account but just a ‘Yes’ for funds available or an ‘No’ for funds not available.

For full definitions of the above Third Party Providers and full definition of payment account, please see our General Terms and Conditions. (Please note, payment account also referees to Credit Cards, Debit and ATM cards)

In conjunction with other Irish banks and the BPFI, the following video has been produced. The video gives an explanation of the changes arising through PSD2.

 

We have also provided our customer with a synopsis of the changes applicable to them. Please click here to view the synopsis document.

Third Party Providers

If you are a Third Part Provider and wish to find more information on the permanent tsb Sandbox and Live Environments, please visit our TPP Developer Portal  

Changes to Products and Services

In addition to the introduction of SCA and Open Banking, we have made other service and product changes in line with PSD2 and will continue to do so over the coming months. We will inform you of these changes through our various communications channels.

To date, we have made updates to the following:

Personal Visa Debit Cards

  • You can activate your card online on Open24 or by making a cash withdrawal at any ATM worldwide.
  • When you are activating your card online you will be asked to complete additional security steps, i.e. you will receive an SMS authentication code and you will need to enter 3 random digits from your 6 digit Personal Access Number (PAN).

If you need any assistance please contact Open24 on 1890500121 (or +353 1 2124101)

Business Visa Debit Cards

  • You must activate your Visa Business Debit cards on www.business24.ie (via the activation banner).
  • When you are activating your card online you will be asked to complete additional  security steps, i.e. you will receive an SMS authentication code and you will need to enter 3 random digits from your 6 digit Personal Access Number (PAN).

If you need any help you can call Business24 on 1890 500 177 (or +353 1 212 1363)

Visa Credit Cards

  • You must activate your Credit card online on www.open24.ie.
  •  When you are activating your card online you will be asked to complete additional  security steps, i.e. you will receive an SMS authentication code and you will need to enter 3 random digits from your 6 digit Personal Access Number (PAN).
  • If you need any help you can call Open24 on 1890 500 172 (or +353 1 212 4865).
  • The principal cardholder must activate the authorised user’s card. Please note that activating the principal cardholder’s card will automatically activate the authorised user’s card.
  • When you receive a replacement or renewal Credit card and use the new Credit card, all subsequent transactions on the old Credit card will be declined.

Password Reset

We have also added an additional security step to the password reset process on Open24. This means that after you receive your temporary internet password through our automated phone service and go to Open24.ie to change your password, you will be asked to enter an authentication code sent to your mobile phone via SMS text message and confirm three digits from your online PAN (screenshot above).

Please note that you will not be able to reset your password if you do not have a valid mobile number registered with us. To ensure the mobile number we have for you is correct, please log into Open24.ie on a desktop or laptop and click on your personal settings.

If your mobile number in the personal setting screen needs to be updated or you are unable to login on desktop please contact Open24 on 1890500121 (or +353 1 2124101).

This change will not apply to customers registering for Open24 or Business24 in a branch via the branch kiosk.

Text Banking Service removal as of  19 September 2019

On the 19 September 2019, we removed the Text Banking facility. As a result, you can no longer carry out the following via text message:

  • Balance Enquiry
  • Mini Statement
  • 3rd Party payment
  • Bill Payment
  • Mobile Top Up
  • Emergency Cash

Please note all of the above functionality is still available via Open24 and the Mobile Banking App.

For further information or assistance, please contact our Open24 team on 0818 50 24 24 or call into your local branch

Revised Terms and Conditions

We have also provided our customer with a synopsis of the changes applicable to them. Please click here to view the synopsis document.

Your rights when making payments in Europe

EU rules mean your electronic payments are becoming cheaper, easier and safer. These rights are thanks to the EU’s revised Payment Services Directive (PSD2), Payment Accounts Directive and other EU legislation, which aim to bring you safer, more convenient payments.

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